Coca-Cola System Contributes $1bn to Nigeria’s Economy, Supports 160,200 Jobs
The Coca-Cola System in Nigeria contributed an estimated $1 billion in value-added economic activity and supported about 160,200 jobs across the country in 2024, according to a socio-economic impact assessment conducted by global consultancy Steward Redqueen.
The assessment covered Coca-Cola Nigeria Limited and its authorised bottling partner, Nigerian Bottling Company, and examined their wider contribution to the Nigerian economy using the Leontief input-output model.
Of the 160,200 jobs linked to the system, 2,989 were direct positions, while more than 157,200 jobs were supported indirectly across sectors including agriculture, logistics, retail, hospitality and distribution.
The study estimated that every direct job created by the Coca-Cola System supported another 53 jobs elsewhere in the economy, illustrating the employment impact generated through its supply chain and business activities.
Local suppliers receive $601m boost
The report also showed that the Coca-Cola System spent approximately $601 million on goods and services purchased from Nigerian suppliers during the year.
A substantial share of the ingredients, packaging materials and other inputs required for production were sourced, manufactured or distributed locally.
According to the assessment, this level of local procurement has strengthened the company’s links with Nigeria’s agricultural, manufacturing and logistics sectors while creating business opportunities for suppliers and other participants in the value chain.
Focus on recycling and water sustainability
Beyond its economic contribution, the assessment highlighted Coca-Cola’s environmental and community-focused initiatives in Nigeria.
One of the projects identified was a packaging collection hub in Apapa, Lagos, with the capacity to process up to 13,000 metric tonnes of PET plastic annually. The facility is expected to provide opportunities for about 1,000 informal waste collectors while contributing to plastic recovery and recycling efforts.
The company’s water stewardship activities were also highlighted. Coca-Cola’s $25 million Africa-wide water initiative covers 20 markets, including Nigeria.
Communities in Borno and Imo states have benefited from interventions such as borehole rehabilitation, sanitation facilities and riverbank restoration. The company said these projects have reached more than 2.6 million people.
Coca-Cola plans further Nigerian investment
The latest findings come as the Coca-Cola System moves to expand its investment in Nigeria.
The company has announced plans to invest an additional $1 billion in the country over the next five years, provided there is a predictable and supportive operating environment.
The planned investment is expected to build on Coca-Cola’s existing operations and strengthen areas such as production, supply chains, local sourcing and employment.
The socio-economic assessment indicates that the company’s footprint in Nigeria extends beyond beverage manufacturing, with its activities also generating economic opportunities across suppliers, distributors, retailers, farmers, logistics operators and other businesses connected to its value chain.
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